secwatch.observer — SEC 8-K summary
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Issuer:     Industrial Tech Acquisitions II, Inc. (—)
CIK:        0001841586
Form:       8-K
Filed at:   2023-07-14T23:59:59+00:00
Accession:  0001213900-23-057088
Event type: regulatory
Sentiment:  negative
Materiality: 0.65
Item codes: 3.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

ITAQ receives Nasdaq deficiency notice for MVLS below $35M; plans to regain compliance via NEXT merger
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- On July 10, 2023, Nasdaq notified ITAQ that its Market Value of Listed Securities was below $35M for 37 consecutive business days, failing Listing Rule 5550(b)(2).
- ITAQ has 180 calendar days (until Jan 8, 2024) to regain compliance; MVLS must close at $35M+ for 10 consecutive days.
- Nasdaq also noted ITAQ does not meet the alternative equity (b)(1) or net income (b)(3) standards.
- ITAQ expects to complete its merger with NEXT Renewable Fuels before the compliance period, after which it will meet Nasdaq initial listing requirements.
- If compliance is not regained, securities may be delisted; ITAQ would have the right to appeal the decision.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1841586/000121390023057088/0001213900-23-057088-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1841586/000121390023057088/ea181794-8k425_indust2.htm
  HTML page:      https://secwatch.observer/filing/0001213900-23-057088

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